Data: Bitcoin exchange supply fell to 2.488 million BTC on Friday, the lowest level in 7 years

CryptoQuant data shows that bitcoin exchange supply fell to a new seven-year low, falling to 2.488 million BTC last Friday. Exchange reserves are currently at 2.492 million BTC, adding about 40,000 BTC over the weekend, but the level is still the lowest since October 2018. However, CoinShares reported that bitcoin fund inflows reached $3.20 billion in the week ended April 28. The double factor of falling foreign exchange balances and increasing inflows indicates that a new round of overweight is coming. But in the past week's rally, retail investors seem to have played a bigger role than in recent weeks. This is evident in the "exchange whale ratio", which has fallen from 0.512 on April 17 to 0.36 on April 27.